JEDDAH, June 7: Saudi Arabia has assured Pakistan that it will consider a request for deferred payments on oil imports.

The assurance was given by Saudi King Abdullah bin Abdulaziz during his meeting with Prime Minister Yusuf Raza Gilani and PPP co-chairperson Asif Ali Zardari here on Saturday. The hour-long meeting covered all important issues confronting the two nations.

Sources told Dawn that the two sides agreed to enhance cooperation in all fields, including the economic sector.

Pakistan has already requested the Saudi authorities to extend the deferred payment facility on oil to help it overcome budgetary constraints.

According to sources, the issue of food security also came up for discussion, with Pakistan offering hundreds of thousands acres of agricultural land in Pakistan to Saudi investors to grow wheat and other staple crops.

The Saudi Arabia acknowledged Pakistan’s problems in balancing its budget due to rising crude bill and assured Islamabad of its help in whatever way it could. The Saudi government has already announced extending a one-time $300 million in cash as budgetary support to Pakistan to help it overcome the growing budget deficit.

The Saudi king showed interests in investing in the industrial sector in Pakistan. The two sides decided to continue deliberations on the subject to reach a final decision.

Pakistani Foreign Minister Shah Mahmood Qureshi also had a separate meeting with his Saudi counterpart Prince Saud al-Faisal. He was also expected to meet Saudi Petroleum Minister Ali Al-Naimi to discuss Pakistan’s request for oil on deferred payments.

Earlier in Madinah, Prime Minister Gilani said the prevailing political instability in Pakistan was the fallout of inconsistent democratic practices in the past. “Long spells of dictatorship have contributed to the current state of political instability,” he said at a joint press conference with the PPP co-chairman.

Commenting on President Musharraf’s statement on Saturday that he will not resign in the current situation, Asif Zardari said parliament was always supreme. “Parliament always has the power and it could send home democratically a president or a prime minister,” he added